At 03.55 and 03.58 hours on 12 May 1942, U-124 fired two torpedoes at convoy ONS-92 southeast of Cape Farewell and hit Mount Parnes and Cristales.

The Cristales (Master Hugh Roberts, OBE) was abandoned and later sunk by gunfire by HMCS Shediac (K 110) (Lt J.E. Clayton, RCNR). The master, 64 crew members, seven gunners and ten passengers were rescued. 37 survivors, including seven passengers were picked up by the corvette and landed at St. John’s on 16 May. The remaining 45 survivors were picked up by USCGC Spencer (WPG 36) and landed at Boston.